Spot demand lifts nickel futures by 0.46%

NEW DELHI, Aug 21: Nickel prices went up by 0.46 per cent to Rs 950.90 per kg in futures trade today as participants raised bets, taking positive cues from the spot market on pick up in demand.

At the Multi Commodity Exchange, nickel for delivery in August moved up by Rs 4.40, or 0.46 per cent to Rs 950.90 per kg in business turnover of 1,258 lots.

In a similar fashion, the metal for delivery in September gained Rs 3.90, or 0.41 per cent to Rs 954.70 per kg in 33 lots.

Analysts said widening of positions by traders following pick up in demand from alloy-makers in the spot markets influenced nickel prices in futures trade. (PTI)